Former Finance Minister, Seth Terkper, has attributed the current economic difficulties to the government’s failure to uphold the financial buffers established by the previous administration.
Speaking at the launch of the “For the Records” campaign book, which highlights the National Democratic Congress (NDC) government’s achievements in the Anyaa-Sowutuom constituency, Terkper called for greater accountability in financial management.
The event, held in Accra, saw the presence of NDC members, including local executives and supporters, as reported by citinewsroom.com. The book, authored by Raphael Apetorgbor, Deputy Communications Officer for the constituency, details the developmental milestones achieved under the NDC and serves as a historical record for local projects.
Terkper emphasized the critical role of transparency and sound financial management in governance. He criticized the misuse of COVID-19 relief funds, amounting to over $6 billion, from international donors, arguing that while the pandemic posed challenges, the mismanagement of resources left the country vulnerable.
“These financial buffers were designed to shield the economy from external shocks, as we learned during the global financial crisis. Sadly, the current administration misused them, leading to the economic difficulties we face today,” he said.
He further pointed to the underutilization of Ghana’s three operational oil fields, which could have supported economic stability, and blamed poor resource management for the hardship many citizens are now experiencing.
“The economic decline is not due to COVID-19 alone; poor governance and mismanagement were major contributing factors,” Terkper stated.
Terkper urged NDC supporters to use the new book as a tool to highlight the party’s positive contributions and correct any misinformation circulating about its record.
“This book serves as a reminder of what we achieved with public funds. It’s essential to provide factual evidence when engaging with voters, especially as we counter false narratives,” he said.
Emmanuel Nii Ashie Moore, the Greater Accra Regional Chairman of the NDC, stressed the importance of unity and truth within the party. He called on both NDC members and Ghanaians to support the party, promising that all the pledges in the NDC manifesto would be fulfilled if they regained power.
Apetorgbor, in his explanation for writing the book, expressed concern over the spread of misinformation regarding the NDC’s work in the Anyaa-Sowutuom constituency. He feared that without a factual rebuttal, these false claims could gain traction. The 30-page book, he said, clearly outlines the NDC’s significant contributions, directly countering claims made by the New Patriotic Party (NPP).
